S&P 500
5445.2 -1.67%
NASDAQ Composite
NASDAQ
17497 -2.78%
Bitcoin
BTC
$66,411 -0.22%
Ethereum
ETH
$3,422 -0.80%
US10Y
4.241% 0.0021
Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Friend.Tech Fees Soar, Deutsche Bank Dives into Crypto Custody

Sep 15, 2023
Author
Tom Couture
Tom Couture AC
Market Update After a week of economic data releases supporting a potential reacceleration of inflation, US Treasury yields are rising across the board, while US equity markets are declining. The SPY and QQQ have dropped 1.26% and 1.82%, respectively, at the time of writing. Crypto markets are performing similarly, with $BTC (-0.94%) trading at $26.3k and $ETH (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the new social platform friend.tech, the platform has seen a resurgence in activity. Over the last 24 hours, friend.tech has accumulated the third most platform fees among all protocols, surpassing well-established projects such as Lido and Uniswap. It will be interesting to monitor the platform’s usage, given its high level of volatility in recent weeks.Source: Token TerminalDeutsche Bank, one of the largest banks in the world, has partnered with Taurus, a Swiss token management platform, to develop digital asset custody and tokenization services for its clients. Deutsche Bank had previously applied for a crypto custody license in June, and the partnership is the latest move in their desire to expand into digital assets. Deutsche Bank’s preliminary plan is to offer custody services for select digital assets, but their global

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Executium TN 6BYSMrQs Unsplash

CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC -0.22% and many altcoins in the green. BTC -0.22% briefly rallied above $67k but has since drifted back down...

BTC -0.22% ETH -0.80% GBTC +1.38% IWM -0.59% QQQ -2.77% SOL 1.55% ^SPX
Andre Francois Mckenzie Vh7U Z75L3U Unsplash

CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -0.80% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -0.22% to Bitstamp, leaving about 90k BTC -0.22% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -0.22% is trading around $66.5k,...

AVAX -2.32% BTC -0.22% ETH -0.80% ETHBTC ETHE N/A% GBTC +1.38% GOOGL -4.47% SOL 1.55% TSLA -10.06% V -3.53%
All-time highs next? Bitcoin holds $62K as the dollar index tumbles to 3-week lows

CRYPTO MARKET UPDATE POLITICAL DEVELOPMENTS CONTINUE TO DOMINATE INVESTOR SENTIMENT FOLLOWING PRESIDENT BIDEN'S WITHDRAWAL FROM THE PRESIDENTIAL RACE ON SUNDAY AFTERNOON. The initial market reaction saw a dip in crypto prices, with Bitcoin falling from $67.5k to $66k. However, the market rebounded after Biden endorsed Harris. Since the U.S. market opened on Monday, we have seen relatively choppy price action. BTC -0.22% is now trading slightly above $67k, while ETH -0.80% remains...

BITI BTC -0.22% ETH -0.80% OP -1.98% SOL 1.55% USDY 0.32%
Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY $545 (-1.67%)  AND QQQ $467 (-2.77%)  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -0.22% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -0.80% is trading at $3,450 ahead of potential S-1 approval after...

BONK 1.70% BTC -0.22% DXY N/A% ETH -0.80% JUP -8.65% QQQ -2.77% SOL 1.55% SPY -1.67% WIF -1.42%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: c85018-9dae20-eb73e5-6121b5-22543d